Comments on: Wisdom from an Ohio citizen http://paydaypundit.org/2009/06/20/wisdom-from-an-ohio-citizens/ News and Information About The Payday Lending Industry Tue, 15 Jun 2010 10:29:51 -0700 http://wordpress.org/?v=2.9 hourly 1 By: down the middle http://paydaypundit.org/2009/06/20/wisdom-from-an-ohio-citizens/comment-page-1/#comment-6140 down the middle Sun, 21 Jun 2009 18:06:18 +0000 http://paydaypundit.org/?p=3798#comment-6140 I agree on both sides to an extent to the loans. I think that the structure of the loans are good, BUT I do not like the fact that they are now giving checks that you can take with you or cash it for a fee at the loan office. Especially when I hear places say " most banks will put a 7-10 day hold on the checks". By writing a check and charging a fee to cash it does not provide a service for the customer, just an extra burdon. My bank will cash the check for free, but I feel sorry for the poor folks that believe that their bank may put a hold on it, Heck, take it to Wal-mart, they will cash it for $3. I also dont like some of the marketing that they do, calling inactive customers that are out of the "cycle of debt" or to send them $25 coupons so that they start loaning again. One company charges MORE now than before. If you cash your check there , you get $100 and have to pay $124. Thats ALOT more than the $115 that you used to have to pay. I think the "credit investigation "fees. I think that this day in age you have to protect your assets and checking to see if they have screwed over other payday lenders in the past. Before I get any negative feed back from anyone, I have gotten loans, but its very limited. I might get 1 every 2 or 3 months and I am never late. I just think there are some things that they need to change. I would so love to just go back to paying $15 for every $100. Thank you Governor Strickland. I agree on both sides to an extent to the loans. I think that the structure of the loans are good, BUT I do not like the fact that they are now giving checks that you can take with you or cash it for a fee at the loan office.
Especially when I hear places say ” most banks will put a 7-10 day hold on the checks”. By writing a check and charging a fee to cash it does not provide a service for the customer, just an extra burdon. My bank will cash the check for free, but I feel sorry for the poor folks that believe that their bank may put a hold on it, Heck, take it to Wal-mart, they will cash it for $3.
I also dont like some of the marketing that they do, calling inactive customers that are out of the “cycle of debt” or to send them $25 coupons so that they start loaning again.

One company charges MORE now than before. If you cash your check there , you get $100 and have to pay $124. Thats ALOT more than the $115 that you used to have to pay.

I think the “credit investigation “fees. I think that this day in age you have to protect your assets and checking to see if they have screwed over other payday lenders in the past.

Before I get any negative feed back from anyone, I have gotten loans, but its very limited. I might get 1 every 2 or 3 months and I am never late. I just think there are some things that they need to change. I would so love to just go back to paying $15 for every $100. Thank you Governor Strickland.

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